Ayo technologies list on JSE

web_photo_Johannesburg_Stock_Exchange_JSE1_04102017

A man walks past the Johannesburg Stock Exchange building in Sandton.

A man walks past the Johannesburg Stock Exchange building in Sandton.

web_photo_Johannesburg_Stock_Exchange_JSE1_04102017

A man walks past the Johannesburg Stock Exchange building in Sandton.

A man walks past the Johannesburg Stock Exchange building in Sandton.

JOHANNESBURG – Communications and Technology firm Ayo Technologies has listed on the Johannesburg Stock Exchange(JSE).

The company’s shares were oversubscribed in December after a private placement, with offers worth R5,3-billion.

The company is a division of African Equity Empowerment Investments and has a R14-billion market capitalisation.

Ayo Technology Solutions is a majority black-owned ICT company, which is at least 30 percent women-owned.

READ: Foreigners own 38% of JSE-listed companies&39; shares

AEEI will own some 49 percent.

The SA Clothing and Textile Workers&39; Union, the Police and Prison Civil Rights Union (Popcru) and the Federation of Unions of SA also hold shares.

Ayo has a 25 percent market share of technology contracts in the public hospital sector and manages the National Health Laboratory Service.